Blockchain
2023 Chainlink Update: Interoperability for Blockchains, Bullish SWIFT Partnership
I’d like to update my analysis as Chainlink has expanded from working with off-chain data to now also include cross-chain token transfers and messages. The broader vision is that Chainlink will become the blockchain backbone for the financial system, accomplished by partnering with SWIFT, the system that currently allows 10,000 banks and financial institutions to communicate with one another. The broader vision is that Chainlink’s Network and CCIP infrastructure will allow developers to build smart contracts with code across multiple chains similar to how web applications consist of code across multiple clouds. The lack of interoperability is holding Web3 back, and Chainlink is the middleware offering the way forward. The first customers to move forward are likely to be banks, and Chainlink is a clear choice as long as the SWIFT partnership continues to expand.
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